Analyst upgrades: K, OCR, KO and OXPS

Filed under: Analyst upgrades and downgrades, Coca-Cola (KO), Kellogg Co (K)

MOST NOTEWORTHY:

• Oppenheimer upgraded Omnicare (NYSE: OCR) to Outperform from Perform citing their analysis that indicates the Rx market is stronger than expected in the LTC channel, which is largely overlooked by investors due to the legacy focus on beds. The firm expects solid Q2 results will increase confidence in the company's ability to achieve mid-point or better EPS guidance.
  


• Deutsche upgraded Coca-Cola (NYSE: KO) to Buy from Hold based on favorable currency impact, international growth, and valuation.
  


• OptionXpress (NASDAQ: OXPS) was raised at Merriman to Neutral from Sell as they see little downside to risk estimates, following several rounds of cuts, and valuation.

• Fresh Del Monte (NYSE: FDP) was upgraded to Outperform from Market Perform at Wachovia.
  


• JP Morgan upgraded Kellogg (NYSE: K) to Overweight from Neutral.
  


• Delta Petroleum (NASDAQ: DPTR) and St. Mary Land & Exploration (NYSE: SM) were upgraded at Merrill to Buy from Underperform.

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